DUBAI: DIFC Courts and the Federal Court of Malaysia have set out procedures for mutual recognition and enforcements of money judgements.
Trade between the two countries totals $6 billion (Dh22 billion) a year, DIFC Courts said in a statement, adding that the Malaysia agreement builds on relationships already established with China, Singapore and South Korea.
DIFC Courts Chief Justice Michael Hwang said: “The DIFC Courts now have formal relationships in place with four of Asia’s largest and most dynamic economies.
“Given Malaysia’s strong industrial and financial services base, the country has been a priority for some time. This agreement represents another significant step forward for trade ties between the UAE and Malaysia that will provide practical assistance to investors, businesses and lawyers in both countries.” (Staff Report)